Sigma Labs Inc (SASI)

[RiskReward1]

I believe this is the exercise price based on the formula that was set for establishing an exercise price for certain of Rice's option awards, which if I recall correctly is the higher of the average share price over the course of the month in which the options are awarded -- in this case, June 2018 -- or the closing price on the day of options award, (last day of the month). So, this filing, which we've seen for April and May option awards to John RIce, as well, I think regards the awarding of options to Rice rather than the exercise of options by Rice, which would be a purchase of shares.